Answering Questions about Credit Scores

As one of the oldest consumer finance companies in Tennessee, we have heard just about every question imaginable when it comes to lending money and getting people back on the right financial path. Many of the questions we encounter deal primarily with a person’s credit score. Your credit score is very important as you look to make purchases in life such as a home or an automobile. At Citizens, we have a number of solutions for those interested in home, automobile or personal loans, just to name a few. Below are some of the most common questions we receive when it comes to credit scores.

How can I improve my credit score?
Your credit score is a number that basically tells a lender how much risk you are as a borrower. This number ranges from 300 to 850. A good credit score is generally 680 and above. In order to improve your credit score, you should pay all of your credit and loan payments on time. A consistent trend of doing this will eventually improve your credit score. You should also follow these simple steps when looking to improve your credit score:

Do not borrow more than you can afford to repay.
Do not max out your credit cards or other lines of credit.
Open a loan at a consumer finance company like Citizens to help establish credit.

Knowing why your credit score is important and how to improve your credit score will ultimately help you as you look to make purchases, like a home or a car, later in life.

Is there a minimum credit score required to borrow from Citizens?
We do not have a minimum credit score requirement like many other lenders. We do look at your credit score but it is only one of many factors we look at in reviewing you loan request. You will not be turned down just because your credit score is low. We realize that sometimes things beyond your control happen and have a negative effect on your credit history, and your credit score does not always reflect your ability to pay. We encourage you to view some of our tips for improving your credit score.

Why is my credit score important?
Your credit score is very important to many lenders. Many of those we do business with come to us when they are looking to improve their credit score. We are happy to say we have helped many people achieve their financial goals through our loan products. Learn more about why your credit score is important in a recent blog entry.

What is the best credit score I can achieve?
Credit scores range from 300 to 850. The best credit score you can obtain is 850. The higher your credit score is the better off you will be as you look to borrow money. At Citizens we do not have a minimum credit score requirement like many other lenders. We understand that things happen beyond your control and want to make sure we provide you with all the resources when you are looking to improve your credit score.

Credit Score Help

Are you looking to improve your credit score? If so, we can help. Our loans help those with less than perfect credit make purchases while at the same time improving their credit score. If you are searching for ways to establish or re-establish your credit score, give us a call today and let us help. We look forward to hearing from you soon.

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